ACQUISITION

3 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Acquisitions

2. ACQUISITION

On October 16, 2015, the Company acquired the stock of Fremont Plastics, Inc. (Fremont) for a purchase price of $10.5 million in cash. The Company also purchased the real property, located in Fremont, Indiana for $2 million, where Fremont conducts its operations. Fremont develops, manufactures, promotes and sells high quality sterile-ready and non-sterile thin gauge thermoformed medical plastic packaging products. Since the date of acquisition the operating results for Fremont have been included as part of TEQ. Based on the preliminary purchase price allocation, the Company recorded approximately $4.4 million of goodwill and $3.6 million of amortizable identifiable intangible assets consisting of customer relationships.